Cyprus Business Now: Polis hotel, EU funding, bank rates, CySEC plan

The environment department has given approval for a €55 million project to convert an existing tourist apartment complex into a 480-bed, 4-star hotel in Polis Chrysochous, it emerged on Wednesday.

In addition, the department noted that the approval is subject to specific conditions and input from various stakeholders.

According to the environmental study submitted by Fattal Latsi Ltd, the overall cost is estimated to cost €55 million, with an expected